Moloco, a Palo Alto, Calif.-based mobile advertising Infrastructure as a Service (IaaS) company, secured $11m in Series B funding.
The round was led by Samsung Ventures and Draper Athena, with participation from Mirae Asset Management, Smilegate Investment and KTB Ventures.
The company intends to use the funds to advance development of its Ad Cloud platform and related solutions, as well as to support expansion of sales and marketing initiatives.
Founded in 2013 by Ikkjin Ahn, CEO, Moloco provides an predictive ad performance engine, powered by machine learning, which turns user data into ad performance, enabling mobile businesses to execute marketing and advertising monetization programs in-house with no upfront cost. A machine learning algorithm optimizes delivery and performance across different ad creative types, while proprietary fraud tools protect ad spending.
The platform offers solutions for large-scale mobile platforms, app publishers and ad networks and includes User Acquisition, and User Re-Engagement Tools, DoubleCheck Fraud Analysis.